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Supplemental Condensed Consolidated Financial Information
 3 Months Ended
Mar. 31, 2020
Supplemental Condensed Consolidated Financial Information [Abstract]  
Condensed Consolidated Financial Statements SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION
We have no significant assets or operations other than our investments in our subsidiaries. Our wholly owned subsidiaries are the guarantors of our Notes. On April 3, 2018, we sold 50% of the ownership interest in our mid-stream segment, Superior and that company and its subsidiaries are no longer guarantors of the 2021 Notes. Instead of providing separate financial statements for each subsidiary issuer and guarantor, we have included the unaudited condensed consolidating financial statements based on Rule 3-10 of the SEC's Regulation S-X.

For the following footnote:

•we are called "Parent",
•the direct subsidiaries are 100% owned by the Parent and the guarantee is full and unconditional and joint and several and called "Combined Guarantor Subsidiaries", and
•Superior and its subsidiaries and the Operator are called "Non-Guarantor Subsidiaries."

The following unaudited supplemental condensed consolidating financial information reflects the Parent's separate accounts, the combined accounts of the Combined Guarantor Subsidiaries', the combined accounts of the Non-Guarantor Subsidiaries', the combined consolidating adjustments and eliminations, and the Parent's consolidated amounts for the periods indicated.
Condensed Consolidating Balance Sheets (Unaudited)
March 31, 2020
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
(In thousands)
ASSETS
Current assets:
Cash and cash equivalents$17,008  $81  $23,905  $—  $40,994  
Accounts receivable, net of allowance for doubtful accounts of $2,332 (Guarantor of $1,116 and Parent of $1,216) 1,670  40,119  17,395  (4,805) 54,379  
Materials and supplies414  —  —  414  
Current derivative asset661  —  —  —  661  
Income taxes receivable2,673  —  —  —  2,673  
Prepaid expenses and other3,138  3,143  7,473  —  13,754  
Total current assets25,150  43,757  48,773  (4,805) 112,875  
Property and equipment:
Oil and natural gas properties on the full cost method:
Proved properties—  6,565,136  —  —  6,565,136  
Unproved properties not being amortized
—  31,538  —  —  31,538  
Drilling equipment—  1,298,626  —  —  1,298,626  
Gas gathering and processing equipment—  —  829,600  —  829,600  
Saltwater disposal systems—  43,831  —  —  43,831  
Corporate land and building—  59,080  —  —  59,080  
Transportation equipment9,713  14,405  3,397  —  27,515  
Other29,008  29,031  —  —  58,039  
38,721  8,041,647  832,997  —  8,913,365  
Less accumulated depreciation, depletion, amortization, and impairment
34,327  7,250,779  483,204  —  7,768,310  
Net property and equipment4,394  790,868  349,793  —  1,145,055  
Intercompany receivable973,769  —  —  (973,769) —  
Investments74,752  —  —  (74,752) —  
Right of use asset39  3,724  3,227  (53) 6,937  
Other assets7,060  8,266  7,650  —  22,976  
Total assets$1,085,164  $846,615  $409,443  $(1,053,379) $1,287,843  
March 31, 2020
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
(In thousands)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable$3,121  $47,721  $12,014  $(4,261) $58,595  
Accrued liabilities30,735  7,585  4,055  (545) 41,830  
Current operating lease liability17  2,156  1,961  (6) 4,128  
Current portion of long-term debt less debt issuance costs771,283  —  —  —  771,283  
Current portion of other long-term liabilities3,020  6,533  8,764  —  18,317  
Total current liabilities808,176  63,995  26,794  (4,812) 894,153  
Intercompany debt—  972,510  1,259  (973,769) —  
Long-term debt—  —  37,000  —  37,000  
Non-current derivative liability123  —  —  —  123  
Operating lease liability20  1,533  1,132  (46) 2,639  
Other long-term liabilities11,154  72,301  4,782  —  88,237  
Deferred income taxes11,205  —  —  —  11,205  
Total shareholders' equity254,486  (263,724) 338,476  (74,752) 254,486  
Total liabilities and shareholders’ equity$1,085,164  $846,615  $409,443  $(1,053,379) $1,287,843  
December 31, 2019
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
(In thousands)
ASSETS
Current assets:
Cash and cash equivalents$503  $68  $—  $—  $571  
Accounts receivable, net of allowance for doubtful accounts of $2,332 (Guarantor of $1,116 and Parent of $1,216) 2,645  64,805  24,653  (9,447) 82,656  
Materials and supplies—  449  —  —  449  
Current derivative asset633  —  —  —  633  
Income tax receivable1,756  —  —  —  1,756  
Assets held for sale—  5,908  —  —  5,908  
Prepaid expenses and other2,019  3,373  7,686  —  13,078  
Total current assets7,556  74,603  32,339  (9,447) 105,051  
Property and equipment:
Oil and natural gas properties on the full cost method:
Proved properties—  6,341,582  —  —  6,341,582  
Unproved properties not being amortized
—  252,874  —  —  252,874  
Drilling equipment—  1,295,713  —  —  1,295,713  
Gas gathering and processing equipment—  —  824,699  —  824,699  
Saltwater disposal systems—  69,692  —  —  69,692  
Corporate land and building—  59,080  —  —  59,080  
Transportation equipment9,712  16,621  3,390  —  29,723  
Other28,927  29,065  —  —  57,992  
38,639  8,064,627  828,089  —  8,931,355  
Less accumulated depreciation, depletion, amortization, and impairment
33,794  6,537,731  407,144  —  6,978,669  
Net property and equipment4,845  1,526,896  420,945  —  1,952,686  
Intercompany receivable1,048,785  —  —  (1,048,785) —  
Investments865,252  —  —  (865,252) —  
Right of use asset46  1,733  3,948  (54) 5,673  
Other assets8,107  9,094  9,441  —  26,642  
Total assets$1,934,591  $1,612,326  $466,673  $(1,923,538) $2,090,052  
December 31, 2019
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
(In thousands)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable$12,259  $61,002  $18,511  $(7,291) $84,481  
Accrued liabilities28,003  14,024  6,691  (2,156) 46,562  
Current operating lease liability20  1,009  2,407  (6) 3,430  
Current portion of long-term debt108,200  —  —  —  108,200  
Current portion of other long-term liabilities3,003  7,313  7,060  —  17,376  
Total current liabilities151,485  83,348  34,669  (9,453) 260,049  
Intercompany debt—  1,047,599  1,186  (1,048,785) —  
Long-term debt less debt issuance costs646,716  —  16,500  —  663,216  
Non-current derivative liability27  —  —  —  27  
Operating lease liability25  690  1,404  (48) 2,071  
Other long-term liabilities12,553  74,662  8,126  —  95,341  
Deferred income taxes68,150  (54,437) —  —  13,713  
Total shareholders' equity1,055,635  460,464  404,788  (865,252) 1,055,635  
Total liabilities and shareholders’ equity$1,934,591  $1,612,326  $466,673  $(1,923,538) $2,090,052  
Condensed Consolidating Statements of Operations (Unaudited)

Three Months Ended March 31, 2020
 ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
 (In thousands)
Revenues$—  $85,154  $42,680  $(5,458) $122,376  
Expenses:
Operating costs—  56,864  32,317  (5,458) 83,723  
Depreciation, depletion, and amortization871  48,473  12,273  —  61,617  
Impairments—  677,962  63,962  —  741,924  
Loss on abandonment of assets—  17,554  —  —  17,554  
General and administrative—  11,553  —  —  11,553  
(Gain) loss on disposition of assets—  396  (6) —  390  
Total operating costs871  812,802  108,546  (5,458) 916,761  
Loss from operations(871) (727,648) (65,866) —  (794,385) 
Interest, net(12,739) —  (518) —  (13,257) 
Gain on derivatives483  —  —  —  483  
Other, net7  35  18  —  60  
Loss before income taxes(13,120) (727,613) (66,366) —  (807,099) 
Income tax benefit—  (3,425) —  —  (3,425) 
Equity in net earnings from investment in subsidiaries, net of taxes
(790,554) —  —  790,554  —  
Net loss(803,674) (724,188) (66,366) 790,554  (803,674) 
Less: net loss attributable to non-controlling interest(33,180) —  (33,180) 33,180  (33,180) 
Net loss attributable to Unit Corporation$(770,494) $(724,188) $(33,186) $757,374  $(770,494) 
Three Months Ended March 31, 2019
ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
 (In thousands)
Revenues$—  $144,294  $70,509  $(25,112) $189,691  
Expenses:
Operating costs—  71,393  56,129  (24,052) 103,470  
Depreciation, depletion, and amortization1,934  48,466  11,726  —  62,126  
General and administrative—  9,741  —  —  9,741  
(Gain) loss on disposition of assets(10) 1,667  (42) —  1,615  
Total operating costs1,924  131,267  67,813  (24,052) 176,952  
Income (loss) from operations(1,924) 13,027  2,696  (1,060) 12,739  
Interest, net(8,202) —  (336) —  (8,538) 
Loss on derivatives(6,932) —  —  —  (6,932) 
Other, net5  —  —  —  5  
Income (loss) before income taxes(17,053) 13,027  2,360  (1,060) (2,726) 
Income tax expense (benefit)(3,699) 3,255  —  —  (444) 
Equity in net earnings from investment in subsidiaries, net of taxes
9,850  —  —  (9,850) —  
Net income (loss)(3,504) 9,772  2,360  (10,910) (2,282) 
Less: net income attributable to non-controlling interest—  —  1,222  —  1,222  
Net income (loss) attributable to Unit Corporation$(3,504) $9,772  $1,138  $(10,910) $(3,504) 
        
Condensed Consolidating Statements of Comprehensive Income (Loss) (Unaudited)
Three Months Ended March 31, 2020
 ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
 (In thousands)
Net loss$(803,674) $(724,188) $(66,366) $790,554  $(803,674) 
Other comprehensive loss, net of taxes:
Unrealized gain on securities, net of tax of $0—  —  —  —  —  
Comprehensive loss(803,674) (724,188) (66,366) 790,554  (803,674) 
Less: Comprehensive loss attributable to non-controlling interests(33,180) —  (33,180) 33,180  (33,180) 
Comprehensive loss attributable to Unit Corporation$(770,494) $(724,188) $(33,186) $757,374  $(770,494) 

Three Months Ended March 31, 2019
 ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
 (In thousands)
Net income (loss)$(3,504) $9,772  $2,360  $(10,910) $(2,282) 
Other comprehensive income (loss), net of taxes:
Unrealized income on securities, net of tax of $7—  24  —  —  24  
Comprehensive income (loss)(3,504) 9,796  2,360  (10,910) (2,258) 
Less: Comprehensive income attributable to non-controlling interests—  —  1,222  —  1,222  
Comprehensive income (loss) attributable to Unit Corporation$(3,504) $9,796  $1,138  $(10,910) $(3,480) 
Condensed Consolidating Statements of Cash Flows (Unaudited)
Three Months Ended March 31, 2020
 ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
 (In thousands)
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities$(66,578) $86,663  $9,827  $—  $29,912  
INVESTING ACTIVITIES:
Capital expenditures
(421) (13,051) (4,056) —  (17,528) 
Producing properties and other acquisitions
—  (210) —  —  (210) 
Proceeds from disposition of assets
—  1,700  51  —  1,751  
Net cash used in investing activities(421) (11,561) (4,005) —  (15,987) 
FINANCING ACTIVITIES:
Borrowings under credit agreement
39,300  —  32,100  —  71,400  
Payments under credit agreement
(23,500) —  (11,600) —  (35,100) 
Intercompany borrowings (advances), net
75,016  (75,089) 73  —  —  
Net payments on finance leases
—  —  (1,026) —  (1,026) 
Employee taxes paid by withholding shares(43) —  —  —  (43) 
Bank overdrafts
(7,269) —  (1,464) —  (8,733) 
Net cash provided by (used in) financing activities83,504  (75,089) 18,083  —  26,498  
Net increase in cash and cash equivalents16,505  13  23,905  —  40,423  
Cash and cash equivalents, beginning of period
503  68  —  —  571  
Cash and cash equivalents, end of period
$17,008  $81  $23,905  $—  $40,994  

Three Months Ended March 31, 2019
 ParentCombined Guarantor SubsidiariesCombined Non-Guarantor SubsidiariesConsolidating AdjustmentsTotal Consolidated
 (In thousands)
OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities$3,548  $64,168  $13,506  $(34) $81,188  
INVESTING ACTIVITIES:
Capital expenditures
(321) (110,089) (12,097) —  (122,507) 
Producing properties and other acquisitions
—  (1,580) —  —  (1,580) 
Proceeds from disposition of assets
10  3,142  38  —  3,190  
Net cash used in investing activities(311) (108,527) (12,059) —  (120,897) 
FINANCING ACTIVITIES:
Borrowings under credit agreement
106,900  —  2,900  —  109,800  
Payments under credit agreement
(66,900) —  (2,900) —  (69,800) 
Intercompany borrowings (advances), net
(43,103) 44,407  (1,338) 34  —  
Net payments on finance leases
—  —  (985) —  (985) 
Employee taxes paid by withholding shares(4,110) —  —  —  (4,110) 
Distributions to non-controlling interest919  —  (1,837) —  (918) 
Bank overdrafts
3,161  —  —  —  3,161  
Net cash provided by (used in) financing activities(3,133) 44,407  (4,160) 34  37,148  
Net increase (decrease) in cash and cash equivalents104  48  (2,713) —  (2,561) 
Cash and cash equivalents, beginning of period
403  208  5,841  —  6,452  
Cash and cash equivalents, end of period
$507  $256  $3,128  $—  $3,891